Analysis Samsung Electronics Case Study Example | Topics and Well Written Essays - 500 words - 2

Analysis Samsung Electronics - Case Study Example The company became known for its relatively low-cost quality innovative product lines and was able to give stiff competition to electronic majors like Sony, Nokia, Phillips etc. by continuously coming up with ever new features in all its products. There were many factors that contributed towards company’s continued leadership position in the world market. The foremost was its business model that relied on speed based innovative products. The company focused on its strategy of developing research and engineering skills so that it could improve and improvise innovatively on the electrical and digital products of Sony, Phillips, Matsushita, and Nokia. Samsung’s ability to launch its own products with added features with a great speed was a huge success with the target population. Samsung had geared its teams of professionals to keep a strict watch on the people’s pulse and was, therefore, able to anticipate their demands and used to come up with new products and features that were envied by its rivals. Another vital feature of its business strategy was its focused approach towards R&D and utilizing his human resource as capital investment. His team was able to develop huge range within the same product because they were able to customize new products around their core design. He also introduced the concept of competing for product development teams which were located at diverse locations, thus promoting competition with the group for innovation. The merit-based promotion within the group ensured that the best got their dues. High potential employees were encouraged to MBA and Ph.D. in the foreign country on company’s expenses so that expert team could be indigenously developed and fostered for improved business performance.